{"id":52626,"date":"2019-04-05T03:04:47","date_gmt":"2019-04-05T03:04:47","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=52626"},"modified":"2019-04-05T03:04:47","modified_gmt":"2019-04-05T03:04:47","slug":"050419-morning-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/050419-morning-session-analysis\/","title":{"rendered":"050419 Morning Session Analysis"},"content":{"rendered":"

5 April 2019\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Morning Session Analysis<\/strong><\/p>\n

 <\/p>\n

Greenback climbs following upbeat jobless numbers.<\/strong><\/span><\/p>\n

U.S dollar have advanced against it basket of six major rival pairs after following the release of Initial Jobless Claims data. According to the U.S Department of Labor, the number of people who filed for unemployment assistance fell to an almost-50-year low last week, with the reading of 202K, better than expected reading of 216K which is the lowest since December 1969, provide hope that the U.S economy is not slowing down. Besides that, recent progress on trade talk between U.S and China remains ongoing and positive. However, market will shift their focus on highly important job data that is Non-Farm Payroll which will release on Friday for further confirmation. U.S dollar rose 0.21% to 97.29 as of writing. Meanwhile, pound sterling have fell after three day gains following warning from BoE Governor Mark Carney on Brexit. According to recent reports, BoE Governor Mark Carney have stated that the likelihood of a hard Brexit remained \u201calarmingly high\u201d and that warned of the dangers of a no-deal scenario. At the same time, he said that London\u2019s financial center could cope with Britain leaving the EU without a deal.<\/p>\n

 <\/p>\n

As for commodities, crude oil price continues its climb towards $70 and rose 0.19% to $62.48 per barrel as tightening supply in the market continue to support the confidence of oil investors. Despite recent surprise climb in the inventory, market has gaining back its momentum as efforts from OPEC and its allies in cutting supply in addition with Iran and Venezuela sanctions outweigh rising inventories pressure. At the same time, refinery maintenance season is also drawing to a close which could provide further demand for crude oil. On the other hand, gold price fell 0.11% to $1288.90 a troy ounce as of writing following a strong jobless claims data that support the dollar which weakening the appeal of safe-haven metal.<\/p>\n

 <\/p>\n

Today\u2019s Holiday Market Close<\/u><\/p>\n

Time\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Market\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Event<\/strong><\/p>\n

N\/A<\/p>\n

 <\/p>\n

Today\u2019s Highlight Events<\/u><\/p>\n

Time\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Market\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Event<\/strong><\/p>\n

N\/A<\/p>\n

 <\/p>\n


\n<\/u><\/p>\n

\u00a0<\/u><\/p>\n

Today\u2019s Highlight Economic Data<\/u><\/p>\n\n\n\n\n\n\n\n\n\n
Time<\/strong><\/td>\nMarket & Data<\/strong><\/td>\nPrevious<\/strong><\/td>\nForecast<\/strong><\/td>\nActual<\/strong><\/td>\n<\/tr>\n
20.30<\/td>\nUSD \u2013 Average Hourly Earnings (MoM) (Mar)<\/td>\n0.4%<\/td>\n0.2%<\/td>\n–<\/td>\n<\/tr>\n
20.30<\/td>\nUSD \u2013 Nonfarm Payrolls (Mar)<\/td>\n20K<\/td>\n175K<\/td>\n–<\/td>\n<\/tr>\n
20.30<\/td>\nUSD \u2013 Unemployment Rate (Mar)<\/td>\n3.8%<\/td>\n3.8%<\/td>\n–<\/td>\n<\/tr>\n
20.30<\/td>\nCAD \u2013Employment Change (Mar)<\/td>\n55.9K<\/td>\n-10.0K<\/td>\n–<\/td>\n<\/tr>\n
20.30<\/td>\nCAD \u2013 Unemployment Rate (Mar)<\/td>\n5.8%<\/td>\n5.8%<\/td>\n–<\/td>\n<\/tr>\n
01.00 \uff086th<\/sup> April\uff09<\/td>\nCrudeOIL – U.S. Baker Hughes Oil Rig Count<\/td>\n816<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

 <\/p>\n

Technical Analysis<\/u><\/strong><\/p>\n

\"\"<\/p>\n

DOLLAR_INDX, H4: <\/strong>Dollar index was traded higher while currently testing the resistance level 96.85. MACD which illustrate bullish bias signal with the formation of golden cross suggest the dollar to extend its gains after it breaks above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 96.85, 97.15<\/p>\n

Support level: 96.20, 95.70
\n<\/strong><\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded lower while currently testing near the support level 1.3065. MACD which illustrate bearish momentum signal with the formation of death cross suggest the pair to extend its losses after it breaks below the support level 1.3065.<\/p>\n

 <\/p>\n

Resistance level: 1.3180, 1.3350<\/p>\n

Support level: 1.3065, 1.2960<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4:<\/strong> EURUSD was traded lower while currently testing near the support level 1.1215. MACD which illustrate bearish momentum signal with the starting formation of death cross suggest the pair to extend its losses after it breaks below the support level.<\/p>\n

 <\/p>\n

Resistance level: 1.1275, 1.1325<\/p>\n

Support level: 1.1215, 1.1180<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded higher while currently testing the resistance level 111.75. MACD which illustrate bullish bias signal with formation of golden cross suggest the pair to extend its gains after it breaks above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 111.75, 112.10<\/p>\n

Support level: 111.40, 110.95<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD remain traded in a sideway channel while currently testing near the resistance level 0.7120. However, MACD which illustrate diminishing bullish momentum with the formation of death cross suggest the pair to be traded lower as a technical correction in short-term towards the support level 0.7070.<\/p>\n

 <\/p>\n

Resistance level: 0.7120, 0.7155<\/p>\n

Support level: 0.7070, 0.7045<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded lower after it breaks below the previous support level 0.6770. MACD which display bearish momentum signal with the formation of death cross suggest the pair to extend its losses towards the support level 0.6725.<\/p>\n

 <\/p>\n

Resistance level: 0.6770, 0.6815<\/p>\n

Support level: 0.6725, 0.6680<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded higher following prior breakout above the previous resistance level 1.3350. MACD which illustrate persistent bullish momentum suggest the pair to extend its gains towards the resistance level 1.3460.<\/p>\n

 <\/p>\n

Resistance level: 1.3460, 1.3570<\/p>\n

Support level: 1.3350, 1.3295<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded higher while currently testing the resistance level 1.0000. MACD which illustrate bullish momentum with the formation of golden cross suggest the pair to extend its gains after it breaks above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 1.0000, 1.0025<\/p>\n

Support level: 0.9965, 0.9910<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded lower following recent retracement from the resistance level 62.50. MACD which illustrate bearish momentum with the formation of death cross suggest the commodity to extend its retracement towards the support level 60.20.<\/p>\n

 <\/p>\n

Resistance level: 62.50, 64.10<\/p>\n

Support level: 60.20, 58.05<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price remain traded in a sideway channel following recent rebound from the support level 1287.00. MACD which illustrate bullish momentum suggest the commodity to extend its rebound towards the resistance level 1298.00.<\/p>\n

 <\/p>\n

Resistance level: 1298.00, 1308.10<\/p>\n

Support level: 1287.00, 1280.85<\/p>\n","protected":false},"excerpt":{"rendered":"

5 April 2019\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Morning Session Analysis   Greenback climbs following upbeat jobless numbers. U.S dollar have advanced against it basket of six major rival pairs after following the release of Initial Jobless Claims data. According to the U.S Department of Labor, the number of people who filed for unemployment assistance fell to an almost-50-year low […]<\/p>\n","protected":false},"author":20,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[13],"tags":[],"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/52626"}],"collection":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/users\/20"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/comments?post=52626"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/52626\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=52626"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=52626"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=52626"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}